The sale is contingent on zoning approval for the proposed "active adult" community. From the Limekiln newsletter:
A quick update on the sale of the property. The buyers are committed to their over 55 community, but things are going slowly with the needed Township approval. This means that next golf season, 2018 is going to happen for sure. It also means 2019 is a real possibility. We are not in any hurry to sell the course. We have to let the political system, do its thing. I’d like to thank everyone who plays golf with us, for their understanding. I have been in the unique position to have a successful business, as well as valuable piece of property. For the first 20 years I’ve worked here, the golf business has been much more successful than the value of the property. We’ve worked hard to make it that way, and we feel we still have a wonderful golf course. Unfortunately, the golf business has declined, and property values have increased to the point where the value of the property, is now more than a successful golf course could ever be. I’m pretty sure this sale, and the 55 and over community, will someday become a reality. But until it does, we will continue to run the golf course, and keep it in the best shape we can.